Fay Servicing, LLC Fraud and diverting insurance proceeds for their own use; Farme Branch Texas

I have been a landlord and real estate investor for 45 years. Fay Servicing, LLC is the worst mortgage servicer I have ever come across. I have had the misfortune of having 3 of my mortgages acquired by this dishonest company. 

I received an insurance settlement check for damages incurred by Hurricane Ian and forwarded to Fay Servicing, llc  for their endorsement on July 24, 2023 by certified mail. It was received on July 31, 2023 according to the green return receipt.  My letter gave Fay the following instructions:

By Certified Mail 7022 1670 0003 1679 2232

Dear Fay Servicing, LLC,

      Please find enclosed a check for $4,500.00 representing final settlement with Heritage Insurance Company for damages incurred at 22135 Montrose Avenue, Port Charlotte, Florida 33952 associated with Hurricane Ian.  Please endorse this check and promptly return it  to my company in the enclosed SASE. Thank you!

END OF CERTIFIED LETTER

 Instead of following my instructions above, Fay Services cashed the check WITHOUT my co-endorsement into one of their suspense accounts. At this moment, Fay Servicing has the use of the settlement funds and I do not have use of the funds for Hurricane Ian repairs and improvements. Fay Servicing is inflicting additional damages to me.

I am in process of filing a criminal complaint against Fay Servicing, LLC with the Florida Department of Financial Regulation for Fraud and diverting of the funds. I do not see how Fay could deposit the check without my co-endorsement and I am accusing them of forging my signature on the insurance check. 

I caught Fay Servicing attempting to defraud me a couple years ago when they said I did not have insurance on my property when in fact I did, and it was prepaid a year in advance. They put their own insurance on my property, raised my escrow payments for the double insurance. And months later, once they acknowledge I in fact already had insurance, encouraged me to drop my insurance and take their insurance.